The Walton Family No Longer the World’s Richest Dynasty

The longstanding reign of the Walton family as the world’s richest dynasty has officially come to an end. In its place, the House of Nahyan, rulers of oil-rich Abu Dhabi in the United Arab Emirates, has claimed the top spot on Bloomberg’s list of the world’s richest families for 2023.

According to the recently released report, petroleum fortunes are currently reshaping global business like never before. The report also suggests that the three Gulf families included on Bloomberg’s latest list may be even wealthier than the report’s conservative estimates.

Leading the list is the Al Nahyan family of Abu Dhabi, with a staggering $305 billion to their name. This figure is particularly impressive considering that Abu Dhabi is home to a majority of the United Arab Emirates’ oil reserves.

The Al Nahyan family’s wealth surpasses that of the Walton family by $45 billion. The Walton family, known for their 46% ownership stake in Walmart, the largest retailer in the world by revenue, has consistently held the top position in these rankings over the past several years. However, they now find themselves in second place, with a net worth of $259.7 billion in the most recent fiscal year.

Rounding out the top three is the Hermès family, whose fortune can be traced back to the renowned French luxury house. The founding family still retains a two-thirds majority ownership in the company and is currently worth an impressive $150.9 billion.

It is evident that there has been a notable shift in wealth within the world’s richest families. As petroleum fortunes continue to play a significant role in shaping global business, keeping an eye on these rankings will provide valuable insights into the changing landscape of wealth and power.

World’s Top 10 Richest Families of 2023

As per the recent report by Bloomberg, the world’s richest families have witnessed a significant increase in their wealth in the past year. Collectively, the ultra-rich clans have added a staggering $1.5 trillion to their fortunes, marking a remarkable 43% increase from the already substantial wealth in 2022.

1. Al Nahyan – Ruling Family of the United Arab Emirates (5 billion)

Topping the list is the Al Nahyan family, the ruling dynasty of the United Arab Emirates. With a massive fortune of $305 billion, they hold the position of the wealthiest family in the world.

2. Walton – Owners of Walmart in the U.S. (9.7 billion)

In second place, we have the Walton family, renowned for their ownership of Walmart, one of the largest retail corporations in the United States. Their wealth stands at an impressive $259.7 billion.

3. Hermès – Owners of Hermès in France (0.9 billion)

The Hermès family, proprietors of the iconic luxury brand Hermès, secures the third spot on the list with a total wealth of $150.9 billion.

4. Mars – Owners of Mars, Inc. in the U.S. (1.9 billion)

Familiar to chocolate lovers worldwide, the Mars family is ranked fourth. Their confectionary empire encompasses beloved brands such as M&Ms, Milky Way, and Snickers bars. Additionally, they have ventured into pet products, accumulating a substantial fortune of $141.9 billion.

5. Al Thani – Ruling Family of Qatar (3 billion)

The Al Thani family, ruling over Qatar, claims the fifth position on this prestigious list with a wealth of $133 billion.

6. Koch – Owners of Koch Industries in the U.S. (7.3 billion)

With an impressive net worth of $127.3 billion, the Koch family, known for their ownership of Koch Industries, secures the sixth spot.

7. Al Saud – Ruling Family of Saudi Arabia (2 billion)

The Al Saud family, the ruling dynasty of Saudi Arabia, holds the seventh position with a considerable wealth of $112 billion.

8. Ambani – Owner of Reliance Industries in India (.9 billion)

In eighth place, we have the Ambani family from India, prominently represented by the owner of Reliance Industries. Their wealth is estimated to be around $89.9 billion.

9. Wertheimer – Owner of Chanel in France (.6 billion)

The Wertheimer family, proprietor of the globally renowned luxury brand Chanel, secures the ninth spot on the list with a significant fortune of $89.6 billion.

10. Thomson – Owner of Thomson Reuters in Canada (.1 million)

Closing off the list, we have the Thomson family from Canada, with their ownership of Thomson Reuters. Their wealth stands at a respectable $71.1 million.

It is worth noting that these figures represent the remarkable financial success these families have achieved and their continued prominence in various industries across the globe.